Comparability Determination for the European Union: Dually-Registered Derivatives Clearing Organizations and Central Counterparties

The Commodity Futures Trading Commission (the ``Commission'' or ``CFTC'') has determined that certain laws and regulations applicable in the European Union (``EU'') provide a sufficient basis for an affirmative finding of comparability with respect to certain regulatory obligations applicable to derivatives clearing organizations (``DCOs'') that are registered with the Commission and are authorized to operate as central counterparties (``CCPs'') in the EU. The Commission's determination provides for substituted compliance with respect to requirements for financial resources, risk management, settlement procedures, and default rules and procedures.